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Sent to a friend The Vanguard Capital Group of Aliso Viejo, CA offered us a Pre-Approved Lease Line of Credit. We wanted to lease several vehicles so we responded by completing their proposal and returning it with our $1,548 deposit. They confirmed that we passed their credit check and that they were the lender (not a broker). We located the first vehicle and instructed the dealer to correspond with Vanguard. (Not affiliated with the Vanguard Group of mutual funds.) After a week of trying to reach Vanguard Capital and getting no response, the dealer sold the vehicle to another buyer.We found two more vehicles and attempted to put the dealers together with Vanguard. After many calls, the dealers made only one actual contact, wherein Vanguard told them to supply more information, which they did. The dealers waited nearly two weeks for Vanguard to issue funds - with no response. When we finally pushed Vanguard on the funding, they said we hadn't passed their lender's credit check. Both dealers sold their vehicles to someone else. Vanguard's Better Business Bureau rating is a D and a number of their complaints involve a refusal to return deposits. We requested a return of our deposit and Vanguard refused.
A Consumer Fraud complaint has been filed with the Orange County District Attorney’s office. If you have any pertinent information regarding Vanguard Capital Group, Jim Young or Chad Lee, contact the District Attorney’s office at 714 834-3600.
Posted 2 years ago
Rating:3.00
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